BEIJING, Aug. 28 (Xinhua Silk Road) -- Baidu Inc., a leading AI company with strong Internet foundation, recently updated investors on its voluntary conversion of secondary listing status to primary listing on the main board of Hong Kong stock exchange effective from September 1, reported Xinhua Finance on Thursday.
By then, Baidu will realize dual-primary listing both on the Hong Kong stock exchange in China's Hong Kong Special Administrative Region and the Nasdaq Global Select Market in the United States.
The conversion does not involve any issuance of new shares or fundraising activities by Baidu.
He Haijian, chief financial officer of Baidu, said the dual-primary listing will enlarge the company's investor basis and improve stock liquidity, marking a key time when its AI strategy enters a fruit-reaping phase.
Besides, Baidu is also actively working on making its H-shares, after the conversion, eligible for inclusion in the basket of eligible trading targets for southbound trading under the Shanghai- and Shenzhen-Hong Kong Stock Connect schemes, according to the report.
(Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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